Biological assets within the scope of IAS 41 are measured on initial recognition and at subsequent reporting
Question:
Biological assets within the scope of IAS 41 are measured on initial recognition and at subsequent reporting dates at fair value less estimated costs to sell, unless fair value cannot be reliably measured. Agricultural produce is measured at fair value less estimated costs to sell at the point of harvest. Because harvested produce is a marketable commodity, there is no 'measurement reliability' exception for produce. The gain on initial recognition of biological assets at fair value less costs to sell, and changes in fair value less costs to sell of biological assets during a period, are included in profit or loss. A gain on initial recognition (e.g. as a result of harvesting) of agricultural produce at fair value less costs to sell are included in profit or loss for the period in which it arises. All costs related to biological assets that are measured at fair value are recognised as expenses when incurred, other than costs to purchase biological assets. IAS 41 presumes that fair value can be reliably measured for most biological assets.
QUESTIONS
1.attribute the Depreciation Fund Method to the group companies and accounting for finance standard and stands
2. what is the implication of the Insurance Policy Method in influencing deprecation in the assessmentof the revenue from assets in fianc?
3. generate the efficiency generated by the Machine Hour Rate Method of depreciation and the parties involved
4. analyze the depreciation amounts in finance emphasizingon theparameters that guide thedepletion technique
5.discuss the scenario of the impairment t of finance charged subject to assets and financial bills
6.why is it a gain or a loss to apply DE recognition?
7. conceptualize on the nature of the intangible assets and the properties derived fromit
8.in the inventories criterions, analyze the handling the categorization of the costfinances to inventory
9.what is the fateof trade receivables in conversion as in finance?
10.interconnect the Prepaid income accordingly with the one-off payment
Expert Answer:
Addressing Accounting Inquiries 1 Depreciation Fund Method This method involves creating a separate fund to accumulate depreciation expense over the a... View the full answer
